On a per-share basis, Visa earned 18 cents a share versus 71 cents a share a year ago. Visa had two significant one-time charges on its books related to the legal organization of the company to include Visa Europe, which Visa Inc. purchased last year. Excluding those one-time items, Visa had an adjusted profit $2.1 billion, or 86 cents per share, which beat analysts' expectations. Visa last year became the credit card processing company for Costco, taking that business away from American Express, which has helped it expand its total payment processing as well. Total revenues at the company were $4.48 billion in the quarter, up from $3.63 billion a year earlier.

Source: New Zealand Herald April 20, 2017 21:00 UTC